Proficio Capital Partners LLC Takes Position in Akero Therapeutics, Inc. (NASDAQ:AKRO)

Proficio Capital Partners LLC purchased a new position in Akero Therapeutics, Inc. (NASDAQ:AKRO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,490 shares of the company's stock, valued at approximately $320,000.

A number of other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of Akero Therapeutics by 54.4% in the 3rd quarter. Wellington Management Group LLP now owns 7,896,632 shares of the company's stock valued at $226,554,000 after acquiring an additional 2,782,029 shares during the last quarter. Janus Henderson Group PLC raised its position in Akero Therapeutics by 2.9% during the third quarter. Janus Henderson Group PLC now owns 7,077,478 shares of the company's stock valued at $203,053,000 after purchasing an additional 201,225 shares during the period. RTW Investments LP lifted its stake in shares of Akero Therapeutics by 9.0% in the 3rd quarter. RTW Investments LP now owns 5,919,435 shares of the company's stock valued at $169,829,000 after purchasing an additional 487,450 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Akero Therapeutics in the 3rd quarter valued at approximately $37,392,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Akero Therapeutics by 4,022.1% in the 4th quarter. SG Americas Securities LLC now owns 597,993 shares of the company's stock worth $16,636,000 after purchasing an additional 583,486 shares during the period.

Akero Therapeutics Trading Down 2.0 %

Shares of Akero Therapeutics stock traded down $0.86 on Friday, hitting $42.72. 594,217 shares of the company traded hands, compared to its average volume of 819,115. The company has a current ratio of 17.25, a quick ratio of 17.25 and a debt-to-equity ratio of 0.05. The company has a market cap of $3.40 billion, a PE ratio of -11.39 and a beta of -0.19. The stock's 50 day moving average price is $46.01 and its 200-day moving average price is $35.08. Akero Therapeutics, Inc. has a 52 week low of $17.86 and a 52 week high of $58.40.

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Akero Therapeutics (NASDAQ:AKRO - Get Free Report) last issued its earnings results on Friday, February 28th. The company reported ($0.99) earnings per share for the quarter, missing analysts' consensus estimates of ($0.98) by ($0.01). Equities research analysts predict that Akero Therapeutics, Inc. will post -3.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup increased their price target on Akero Therapeutics from $65.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Morgan Stanley reissued an "overweight" rating on shares of Akero Therapeutics in a research note on Sunday, March 2nd. UBS Group lifted their price target on shares of Akero Therapeutics from $42.00 to $109.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Canaccord Genuity Group upped their price target on shares of Akero Therapeutics from $56.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Finally, Bank of America raised shares of Akero Therapeutics from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $35.00 to $63.00 in a research note on Thursday, January 30th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $76.29.

Insider Buying and Selling

In related news, Director G. Walmsley Graham bought 200,000 shares of the company's stock in a transaction on Thursday, January 30th. The shares were acquired at an average price of $48.00 per share, with a total value of $9,600,000.00. Following the transaction, the director now owns 1,000,000 shares of the company's stock, valued at $48,000,000. The trade was a 25.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Patrick Lamy sold 5,000 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $57.03, for a total value of $285,150.00. Following the completion of the transaction, the vice president now directly owns 33,492 shares of the company's stock, valued at approximately $1,910,048.76. The trade was a 12.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 341,309 shares of company stock valued at $15,863,578 and sold 252,135 shares valued at $12,345,079. 7.94% of the stock is owned by insiders.

Akero Therapeutics Company Profile

Akero Therapeutics, Inc, together with its subsidiary, engages in the development of treatments for patients with serious metabolic diseases in the United States. The company's lead product candidate is efruxifermin (EFX), which is in Phase 3 clinical trials that protects against cellular stress and regulates the metabolism of lipids, carbohydrates, and proteins throughout the body for the treatment of biopsy-confirmed metabolic dysfunction-associated steatohepatitis (MASH) patients.